Protect Your Business Against The Most Dangerous Cybersecurity Threats

Here's how to protect your business from cybersecurity threats that could damage or bring it down.

With the increased use of mobile devices and growing Internet penetration, cybersecurity threats have become a growing concern for both businesses and individuals. In 2016, cybercrime was the second-most reported economic crime affecting a third of organizations, according to the PwC Global Economic Crime Survey.

But large organizations aren’t the only ones looking into measures on how to protect against cyber attacks. According to a 2018 study conducted by the Ponemon Institute:

The harsh truth: Every business is at risk. That’s why it’s important to know the types of cyber threats they may encounter, as well as how to prevent them through effective cybersecurity solutions.

Phishing

How it works: You get an email from your bank asking you log into your account to continue enjoying its mobile banking feature. The email address it’s from is different from their usual correspondence.

By clicking on the link, you could become a victim of email phishing wherein a seemingly reputable source invites you to download an unknown attachment or visit a fake version of a trusted website. They then steal your information as you attempt to log in. According to security firm Kaspersky Lab, phishing is at an all-time high, with the number of attacks over 137 million in 2018.

Make it a habit to always check if the sender’s email address is genuine, as well as the link address they’re inviting you to click. Don’t download attachments from unknown sources, and only use a secure connection when visiting sensitive websites.

Increase your email security and have a secure Web gateway in place to further protect PCs and mobile devices from data leaks and malicious URLs.

Ransomware

How it works: You receive an email from an unfamiliar source asking you to download the attached file, saying it’s important.

By its name, ransomware is a malicious program that, when downloaded and activated, prevents users from accessing files and using applications until a ransom is paid, usually through cryptocurrency.

According to security firm FireEye, ransomware attacks on small and large organizations have been rising since 2015 — and will continue to do so because small businesses have “limited security budgets and expertise.”

Always make sure that your IT personnel are trained to spot vulnerabilities and implement preventive measures. Globe MyBusiness’s managed cybersecurity solutions can also help secure your network at a budget that will be easy to manage.

Cloud-based Breach

How it works: While trying to access your company’s cloud server, you decide to write down your password on a piece of paper and hide it somewhere. You might think it’s a good idea, but actually, it’s not. Writing down passwords is the easiest way for your network to get hacked; try a password manager instead. Cloud-based solutions have become attractive targets because of their potential to bring down entire networks.

According to Microsoft, cloud-based attacks focusing primarily on cloud and endpoint security increased by as much as 300% in 2017. These attacks are usually the result of weak passwords, poor password management, targeted phishing attacks, and the breach of third-party services.

It isn’t enough for IT staff to be knowledgeable; employees also need to know the importance of cybersecurity in business. Make sure that passwords are kept private and regularly changed, implement a robust web application firewall, and set up a protocol for all employees to follow in the event of a breach or hack.

Internet-of-Things (IoT)

How it works: You invite anyone with a digital device to connect to the company network to impress them about your new smart office where you can control everything with just your phone.

However, it’s difficult to ensure that all devices that connect to your network are secure. While IoT has allowed digital devices to connect to the Internet for greater efficiency and convenience, it’s also made it easier for cybercriminals to compromise an entire network. According to a report from security firm Symantec, the number of IoT attacks increased from 6,000 in 2016 to 50,000 in 2017 — rising 600% in one year.

It’s a business necessity to have a secure network connection, as well as rules about devices that can be allowed to connect to the office network. Globe MyBusiness’ Unified Threat Management (UTM) and boxed security solutions can help SMEs address advanced information security threats while alleviating the pressures created by budget constraints, skills shortages, and compliance requirements.

Let Globe myBusiness become your reliable partner in providing quality solutions against cyberattacks that could harm your business. Get in touch with our expert account managers to learn more.

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